MATH Briefing - Basel III Capital Requirements
DescriptionThe Basel III Accord aims to improve the supervision and risk management of deposit-taking institutions to minimize the likelihood and impact of future financial crises. Implementation of the agreement has, however, resulted in much debate in the U.S. and abroad. This briefing will address the operational features of Basel III, its current state of implementation, and how Basel III requirements will affect financial market participants in the United States and around the world.
Jeffrey Brown is managing director at Promontory Financial Group. Brown helps clients meet regulatory expectations for capital planning, focusing on ways to demonstrate to regulators that banks understand their risks and that they can manage their capital positions to adequately address those risks. He possesses two decades of experience in the Office of the Comptroller of the Currency (OCC), where he became the senior deputy comptroller for international and economic affairs. In that role, he supported the agency with economic and policy analysis and was instrumental in shaping the approach to implementation of Basel II. He also led the OCC's Risk Analysis Division. Brown earned a Ph.D. and M.A. in economics from Brown University and a B.A. in political science and economics from the University of Iowa.
Chris Brummer is a senior fellow at the Milken Institute's Center for Financial Markets and a professor of law at Georgetown University. An expert in international financial regulation, he lectures widely on securities and banking supervision. Brummer has taught at the University of Basel, the University of Heidelberg and the London School of Economics. Before becoming a professor, he practiced law in the New York and London offices of Cravath, Swaine & Moore LLP. His research has appeared in many of the country's most prestigious journals, and in 2013, he was appointed to a three-year term on FINRA's National Adjudicatory Council. Brummer holds a J.D. from Columbia Law School and a Ph.D. in Germanic studies from the University of Chicago.
Mark Calabria is the director of financial regulation studies at the Cato Institute. Before joining Cato in 2009, he spent six years as a member of the senior professional staff of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, where he handled issues related to housing, mortgage finance, economics, banking and insurance for Ranking Member Richard Shelby (R-Ala.). He was also deputy assistant secretary for regulatory affairs at the U.S. Department of Housing and Urban Development. Calabria has been a research associate with the U.S. Census Bureau's Center for Economic Studies. He holds a Ph.D. in economics from George Mason University.
Jim Gross is vice president of financial accounting and public policy for the Mortgage Bankers Association (MBA). In this capacity, he advises MBA's senior vice president of public policy and Industry relations on emerging industry policy issues and sets strategic priorities. He is the staff representative to MBA's Financial Management Committee and has served as chairman of that committee for fiscal years 1998 and 1999. Prior to joining MBA in 2008, Gross was controller and later chief financial officer at NetBank, Inc. for seven years. He also was CFO of New America Mortgage, IndyMac, and J.I. Kislak Mortgage. He served six years with Ernst & Young and four years with Deloitte Touche as a banking and mortgage specialist. Gross graduated from Ohio Wesleyan University with a B.A. in economics. He earned his M.B.A. from Rutgers University.
For more information, please contact: Dianna Dunne, Director of Government Affairs, Milken Institute at email@example.com.